SEOUL - The South Korean government has reported a slight increase in the retrieval rate of public funds used for corporate bailouts, with the rate reaching 71.5 percent as of the end of March. This marks a 0.01 percentage point rise from the previous quarter.
According to Yonhap News Agency, since November 1997, the government has injected a total of 168.7 trillion won (US$122.4 billion) into supporting troubled businesses. In March alone, the government successfully retrieved 136.6 billion won by selling its remaining 1.24 percent stake in Woori Financial Group. The efforts are part of ongoing strategies to recover funds expended in stabilizing the financial market and assisting economic recovery.